Osaka business group to help lure firms to Japan-backed economic zone in Myanmar

The Osaka Chamber of Commerce and Industry has agreed to help attract small and medium-size companies to the Japanese-backed Thilawa Special Economic Zone near Yangon by establishing small rental factory spaces, the zone’s operator has announced. The OCCI, which is comprised of businesses around Osaka, and the Union of Myanmar Federation of Chambers of Commerce […]

Rakhine State Plans to Export 10,000 Tons of Beans to India

Rakhine state plans to export 10,000 tons of Matpe beans to India in the cur­rent fiscal year, which be­gan in April. Official media reported that arrangements are underway to plant Matpe beans in the state during the coming rainy season and will export the sur­plus to the neighboring country, Rakhine State Minister of Planning, Revenue […]

Clothing industry looks for favoured status

The Myanmar Garment Entrepreneurs Association says it is working for MFN (most-favoured nation) status so that the CMP (cutting, making and packaging) clothing industry can receive tax reliefs. Myint Soe, chair of the association, said: “I have submitted a plan to ensure the country gets MFN status when CMP products are exported to the US. […]

Myanmar courting Thai steel ventures

The Myanmar government is wooing Thai steel producers to set up a joint venture to produce hot-rolled coil steel in Bagan, according to the secretary-general of the Iron and Steel Club under the Federation of Thai Industries (FTI), Korrakod Padungjitt. He said the Myanmar government is building a steal factory in Bagan with total capacity […]

Japan’s IHI inaugurates heavy concrete factory joint venture in Myanmar

IHI Corp. held an opening ceremony Sunday for its heavy concrete factory in Myanmar, becoming the first Japanese plant producing pre-stressed concrete products in Southeast Asia’s newest emerging market. The Tokyo-based heavy industry company, in partnership with Myanmar’s Construction Ministry, opened the $12.2 million facility in the Myaungdagar Steel Industrial Zone in Hmawbi, located about […]

Foreign investment booms in Myanmar telecoms

Overseas companies spent big on building mobile phone infrastructure in Myanmar over the past year, while they took a break from exploring oil and gas. Foreign investment in Myanmar’s transportation and telecommunications sectors surged to $3.08 billion for the year ended March, a 60% jump. In contrast, spending in the gas and oil industry — […]

Yangon Traffic to Get a Lift

Commuters in Yangon may well be frustrated with the lack of parking spaces in the city, but a new mechanised innovation from Japan might provide the first step in attempts the alleviate congestion. The car lift, or Mechanical Car Parking System, takes up little space but can accommodate up to 15 vehicles, according to a […]

Big International Gem Show Being Held in Yangon

​​ An international exhibition of Myanmar gems with foreign and domestic companies is being held in Yangon until Monday. Firms from Thailand, Hong Kong, China, Japan, Vietnam, Germany, the United States, Italy, Israel and India are participating. The four-day event also has machines for goldsmiths and quality testing for diamonds and gems. A spokesperson for […]

Myanmar’s New Struggle: Keeping Foreign Investors Happy

A pariah state for decades, Myanmar’s recent emergence from economic isolation has attracted foreign companies and investors intrigued by the Southeast Asian nation’s untapped potential, abundant natural resources and low wage workforce. The first U.S. fast food restaurant, KFC, opened in 2015 and other assorted Western and Asian brands have popped up across the nation’s […]

Myanmar Fishery Export Income Set to Double

​​ THOUGH MYANMAR’S fishery export income took a dive for three straight years until 2015, industry players hold high hopes to rebound, given the slight increase last year and the potential continuation of growth this fiscal year ending on March 31. In FY2011-12, Myanmar could generate US$705.9 million (Bt24.7 billion) from fishery exports, after dropping […]